The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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From: Elroy Jetson	12/24/2018 2:18:07 PM
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China’s direct soybean imports from the United States plunged to zero in November, but China may be importing US soybeans from Brazil - reuters.com Marking the first time since the trade war between the world’s two largest economies started that China, the world’s largest soybean buyer, has imported no U.S. soybeans. China is expected to resume import of soybeans from the US after January 1 as supplies in Latin America are currently limited as Brazilian crops are now in the middle of their growing cycle meaning less is available for export. US soybean prices have fallen by 20 per cent since April to their lowest price in nearly a decade, while the Brazilian crop is being sold at a premium, according to industry watchers. This has led to a shell game with Brazil, and Argentina another major soybean grower, snapping up some of the cheap US supplies, according to Grant Kimberley from the Iowa Soybean Association. “There have been purchases from Brazil and Argentina to back fill their own domestic industries,” he said. China brought in 5.07 million tonnes of soybeans from Brazil in November, up more than 80 percent from 2.76 million tonnes a year ago, data from the General Administration of Customs showed. Meanwhile, U.S. imports plunged from 4.7 million tonnes in November 2017 and were down from 67,000 tonnes in October.

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